Section 55Q (exercise of power in support of overseas regulator)
This section has no associated Explanatory Memorandum
20.—(1) Section 55Q(1) (exercise of power in support of overseas regulator) is amended as follows.
(2) Omit subsection (4).
(3) In subsection (5), in the words before paragraph (a), for the words from “do so” to “EU obligation, it” substitute “exercise its own-initiative powers in response to a request, the UK regulator”.
(4) Omit subsection (7).
(5) In subsection (8), for “subsection” substitute “subsections (5) and”.
(1)
There are other amending instruments but none is relevant.